Business Aviation News

Bombardier Expects Continued Growth in 2023

Bombardier Expects Continued Growth in 2023

Bombardier expects higher aircraft deliveries and revenues for 2023 following steady business growth for the past year.

The Canadian manufacturer forecasts a delivery of 138 aircraft and US$7.6 billion in revenues for 2023, saying that it will provide strategic progress updates during its virtual Investor Day later on March 23.

In 2022, the company delivered 123 aircraft and reported $6.9 billion in revenues, up 14% year-over-year driven by higher deliveries, a favorable aircraft mix and aftermarket. It also repaid $1.1 billion of debt.

Bombardier’s backlog reached $14.8 billion in 2022, representing a $2.6 billion increase year-over-year due to steady demand. Full-year unit book-to-bill, the ratio of orders to aircraft shipped, reached 1.4.

“The 2022 results we are presenting today are a resoundingly positive culmination of a strong year, and a testament to the team’s effort to execute in the fourth quarter. We exceeded commitments across the board, be it on deliveries, our growing aftermarket business and profitability,” said Éric Martel, Bombardier’s President and Chief Executive Officer.

Business jet makers’ backlogs grew over the last two years on sustained demand since the height of COVID-19. However, analysts say private jet traffic is set to level off this year.

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